Florida CRE Market Heading Toward Recovery?

Key Findings:

  • Select industries are beginning to re-establish their confidence in the market through expansions and long-term lease commitments.
  • Multihousing properties are highly targeted by investors in Florida. In core markets, international investors continue to show strong interest in commercial real estate assets.
  • Distressed assets continue to be a concern, but Florida’s lengthy foreclosure process slows the delivery of distressed assets available for acquisition.
Comparatively, Miami is leading the state in new activity. While lease renewals dominate markets outside the core regions, such as Jacksonville and Southwest Florida, market indicators including rental rates and occupancy are showing signs of stabilization. North and Central Florida markets have yet to experience a surge in activity, but CBRE Florida leadership agree that stabilized market indicators and strengthened fundamentals put Florida in a good position for recovery. What’s your take?  Share your perspective by leaving a comment below.     CBRE’s Florida Market Perspective reports on seven major markets in Florida, covering office, industrial, retail, and multifamily properties. For the complete look at commercial real estate in Florida, go to www.cbre.com/fmp.    ]]>

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